In a bid to attract investments into India, the Government is likely to increase the foreign direct investment (FDI) limit in the pension sector to 74 per cent from the present limit of 49 per cent, Economic Times.
The Government is expected to table a Bill in this respect in the upcoming monsoon or winter session of the Parliament. The bill would amend the Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013 enable allow FDI in pension funds to the extent of 74 per cent.
The said bill will also likely enable the separation of the National Pension System (NPS) Trust from the PFRDA, moving its powers, functions and duties to a charitable trust or under the Companies Act.
Meanwhile, it should be noted that the Government had recently raised the FDI limit for the investments in the insurance sector as well from 49 per cent to 74 per cent. Before this, the Government had amended The Insurance Act, 1938 in 2015. The said amendment has already enabled an FDI inflow of Rs 26,000 crore in the last five years.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.